[News] Energy bills to top £4200 at the start of next year

[beorhthelm]

Yes, things aren't good. What the energy companies will say (and I think @beorhthelm was saying if I understood correctly) is that they forward buy, so they're not experiencing the (full?) benefits of the reductions in wholesale prices. There is the feather/rocket analogy that may well be applicable here -- it's certainly one that the petrol retailers are remarkably adept at.
They could always be regulated effectively, subject to windfall taxes, or even nationalised, but I wouldn't hold your breath.

more simpler, though thats another factor, was saying despite the dramatic fall in wholesale price, they are still multiples above the long term norm.

 

[nicko31]

The party goes on, BP share price up 34% in 12 months

 

[RandyWanger]

Makes me proud to be a white, English, Brexit supporting Tory voter. Me and my bulldog Winston love this shit.

 

[Weststander]

I could only see a Feb23 energy bills thread, so I'm posting our Nov-Feb numbers here.

We're with Octopus. We don't have smart meters or any of the gizmos plugged on nsc. This covers 4 people, the house was kept warm, the only changes from the past were clamping down on the silliness of windows being left wide open because someone was 'hot' and on unused lights/extractor fans being left on for hours.

Net of help from both government schemes (EBSS and EPG):
Nov 22 - total cost £206
Dec 22 - £281
Jan 23 - £326
Feb 23 - £167

Average £245

kWh consumption
Nov 22 - elec 314 / gas 1,399
Dec 22 - elec 323 / gas 2,104
Jan 23 - elec 381 / gas 2,328
Feb 23 - elec 322 / gas 1,667

Averages - elec 335 / gas 7,498

 

[Bozza]

I could only see a Feb23 energy bills thread, so I'm posting our Nov-Feb numbers here.

We're with Octopus. We don't have smart meters or any of the gizmos plugged on nsc. This covers 4 people, the house was kept warm, the only changes from the past were clamping down on the silliness of windows being left wide open because someone was 'hot' and on unused lights/extractor fans being left on for hours.

Net of help from both government schemes (EBSS and EPG):
Nov 22 - total cost £206
Dec 22 - £281
Jan 23 - £326
Feb 23 - £167

Average £245

kWh consumption
Nov 22 - elec 314 / gas 125
Dec 22 - elec 323 / gas 188
Jan 23 - elec 381 / gas 208
Feb 23 - elec 322 / gas 149

Averages - elec 335 / gas 168

What does your gas kWh number mean, eg Feb 23 - 149. Do you mean 149 per day on average? If so, I don't see how that works out unless you're on some sort of cheaper fixed rate currently, as roughly 149 (kWh/day) * 10p * 28 days = £417.

 

[Weststander]

What does your gas kWh number mean, eg Feb 23 - 149. Do you mean 149 per day on average? If so, I don't see how that works out unless you're on some sort of cheaper fixed rate currently, as roughly 149 (kWh/day) * 10p * 28 days = £417.

Sorry and good point, I forgot to convert the gas meter readings to kWh, so now amended above.

 

[Deleted member 37369]

What does your gas kWh number mean, eg Feb 23 - 149. Do you mean 149 per day on average? If so, I don't see how that works out unless you're on some sort of cheaper fixed rate currently, as roughly 149 (kWh/day) * 10p * 28 days = £417.

I wonder if it's the meter reading? Gas readings can be a bit confusing as the meter measures cubic meters used.

Last month my gas meter had moved from 2210.0 to 2288.0 = 78m3

To get to kWh it's - 78 x 1.02264 x 38.9 ÷ 3.6 = 861.9kWh

 

[Deleted member 37369]

I do like a spreadsheet ... this is mine so I can compare last couple of years since I moved to SO Energy. Next bill should be available for me to update spreadsheet tomorrow!

 

[Weststander]

I do like a spreadsheet ... this is mine so I can compare last couple of years since I moved to SO Energy. Next bill should be available for me to update spreadsheet tomorrow!

View attachment 158041

If I find some time, I may compare to last year too.

For me they're more of interest than being meaningful of actions taken, as very mild months (we get those a lot in winter these days) really skew the gas numbers lower, making it hard to truly compare year to year.

 

[Deleted member 37369]

If I find some time, I may compare to last year too.

For me they're more of interest than being meaningful of actions taken, as very mild months (we get those a lot in winter these days) really skew the gas numbers lower, making it hard to truly compare year to year.

Agreed ... my numbers don't take into account when we've had holidays and also our son moved back in with us end of last summer and we have his daughter with us half of the week now ... so average usage naturally has gone up.

 

[Icy Gull]

Now that EDF and others I assume are offering fixed rates to 31 July 24 what are you doing?

Stick with the reduced variable rates or switch to the guaranteed rates? £75 canx fee on EDF

EDF fixed are a few pence per KW more expensive than the current variable

Apparently prices may fall again in October but go back up again in January

Question is will fixed rates still be available when the prices drop again in October?

In a quandary personally

Thoughts very welcome

 

[LamieRobertson]

Now that EDF and others I assume are offering fixed rates to 31 July 24 what are you doing?

Stick with the reduced variable rates or switch to the guaranteed rates? £75 canx fee on EDF

EDF fixed are a few pence per KW more expensive than the current variable

Apparently prices may fall again in October but go back up again in January

Question is will fixed rates still be available when the prices drop again in October?

In a quandary personally

Thoughts very welcome

Can’t help with your quandary but like you giving the matter some thought as OVO have revised a ‘fix’ they brought out earlier, which according to the email they sent me, is cheaper than the variable plan i am currently on …..ringing them tomorrow as i have a few queries, but certainly giving it some consideration

 

[raymondo]

Can’t help with your quandary but like you giving the matter some thought as OVO have revised a ‘fix’ they brought out earlier, which according to the email they sent me, is cheaper than the variable plan i am currently on …..ringing them tomorrow as i have a few queries, but certainly giving it some consideration

Please post an update after OVO chat @LamieRobertson as I'm also with them .
Well, so long as your questions to them are for general consumption .
Also, it's quite possible that Martin Lewis (MSE) will comment on the ovo offer, as he did on their earlier offer. So, I'll be looking out for anything from him.

 

[LamieRobertson]

Please post an update after OVO chat @LamieRobertson as I'm also with them .
Well, so long as your questions to them are for general consumption .
Also, it's quite possible that Martin Lewis (MSE) will comment on the ovo offer, as he did on their earlier offer. So, I'll be looking out for anything from him.

Hi….spent a bit more time comparing figures and checking the wording on their THREE emails re fix etc….i was wrong in saying it would be cheaper (not surprised)…..i see they are also talking about offering a £10 monthly credit if you reduce electric use to a certain percentage by cutting their peak time (4/7pm) use….smart meter necessary and should be available to all by end of august ……i need to crash some sums on gas use especially as thats the biggest difference …..like you i will see what ML has to say on the subject …though this fix looks a lot more interesting than the previous one..especially as we’ve had the predicted ‘fall’ and one year isn’t much of a commitment compared to the 2 i took out 2 odd years ago.

In conclusion still mulling ..…

 

[raymondo]

Hi….spent a bit more time comparing figures and checking the wording on their THREE emails re fix etc….i was wrong in saying it would be cheaper (not surprised)…..i see they are also talking about offering a £10 monthly credit if you reduce electric use to a certain percentage by cutting their peak time (4/7pm) use….smart meter necessary and should be available to all by end of august ……i need to crash some sums on gas use especially as thats the biggest difference …..like you i will see what ML has to say on the subject …though this fix looks a lot more interesting than the previous one..especially as we’ve had the predicted ‘fall’ and one year isn’t much of a commitment compared to the 2 i took out 2 odd years ago.

In conclusion still mulling ..…

Many thanks for your update ..Yes, I feel the same...still calculating. Better than their previous offer, but they're probably not wanting to do us many favours.
Reducing the electric during peak time is hard for us ( I suspect for many) as that's when the family want dinner etc but, yes, gas use is the biggest for us...mainly the winter heating of course. Not sure what's going to happen with variable prices when winter hits again. I'll update you if/when I make an OVO decision! but I also want to see if ML gives advice. Cheers.

 

[LamieRobertson]

Many thanks for your update ..Yes, I feel the same...still calculating. Better than their previous offer, but they're probably not wanting to do us many favours.
Reducing the electric during peak time is hard for us ( I suspect for many) as that's when the family want dinner etc but, yes, gas use is the biggest for us...mainly the winter heating of course. Not sure what's going to happen with variable prices when winter hits again. I'll update you if/when I make an OVO decision! but I also want to see if ML gives advice. Cheers.

Well his last two updates have been useful info wise …but nothing that really pushes me in a different direction…..if things stay as they are politically/Ukraine etc etc, then I’m inclined to stay with the variable plan that i have currently….with the forecast of a further decline in October it will be interesting to see firstly if that takes place and secondly if it results in a better ‘fix’ than currently on offer …..then i will review things again

 

[Icy Gull]

Well his last two updates have been useful info wise …but nothing that really pushes me in a different direction…..if things stay as they are politically/Ukraine etc etc, then I’m inclined to stay with the variable plan that i have currently….with the forecast of a further decline in October it will be interesting to see firstly if that takes place and secondly if it results in a better ‘fix’ than currently on offer …..then i will review things again

Same

 

[raymondo]

Well his last two updates have been useful info wise …but nothing that really pushes me in a different direction…..if things stay as they are politically/Ukraine etc etc, then I’m inclined to stay with the variable plan that i have currently….with the forecast of a further decline in October it will be interesting to see firstly if that takes place and secondly if it results in a better ‘fix’ than currently on offer …..then i will review things again

Same for me . As you say, ML's recent update is useful but he had OVO as borderline 'maybe' for their latest fix offer.
Let's see how it goes. At least August is a cheap month for us!

 

[KZNSeagull]

FYI if anyone is interested, my gas bill for July arrived today - unit rate has fallen from 12.588p to 7.453p. (Eon Next Flex)

 

[Zeberdi]

Just a heads up ( sorry if posted elsewhere) - remember to submit a meter reading for fuel bills to 31st December 2023 before new tariff applies from January 1st even if you pay by DD - you can still get it backdated.

This can be done online until 5 January ( at least with Scottish Power -and probably other fuel companies). Easier to use the completely automated function to submit reading just inputting account number, email and reading(s) - signing in seems to be difficult because of heavy traffic. Mine registered very quickly with a confirmation email I would be charged under the old cap until 31st December readings.